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Chemical Week Magazine :: Business & Finance :: United States/Americas

Tronox wins bankruptcy-related judgement against Anadarko

4:32 PM MST | December 23, 2013 | —Natasha Alperowicz

A US federal judge has ruled in favor of Tronox, finding that Kerr-McGee’s 2005 spin-off of Tronox was done with “intent to hinder and delay” Tronox’s creditors. The ruling found Anadarko Petroleum, which acquired Tronox’s former parent company Kerr-McGee in 2006, liable for damages up to $14.5 billion, subject to a set-off against claims that Anadarko filed as a creditor in Tronox’s 2009 bankruptcy filing. Kirkland & Ellis, which represented Tronox’s litigation trust at the trial, says the spin-off stripped away valuable oil and gas assets and...

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